EBK STATISTICS FOR BUSINESS AND ECONOMI
13th Edition
ISBN: 8220103633567
Author: Sincich
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 4, Problem 4.163LM
Which of the following describe discrete random variables, and which describe continuous random variables?
- a. The number of damaged inventory items
- b. The average monthly sales revenue generated by a salesperson over the past year
- c. Square feet of warehouse space a company rents
- d. The length of time a firm must wait before its copying machine is fixed
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
7. In a 2011 article, M. Radelet and G. Pierce reported a logistic prediction equation
for the death penalty verdicts in North Carolina. Let Y denote whether a subject
convicted of murder received the death penalty (1=yes), for the defendant's race
h (h1, black; h = 2, white), victim's race i (i = 1, black; i = 2, white), and
number of additional factors j (j = 0, 1, 2). For the model
logit[P(Y = 1)] = a + ß₁₂ + By + B²²,
they reported = -5.26, D
â
BD
=
0, BD
=
0.17, BY = 0, BY
=
0.91, B = 0,
B = 2.02, B = 3.98.
(a) Estimate the probability of receiving the death penalty for the group most
likely to receive it. [4 pts]
(b) If, instead, parameters used constraints 3D = BY = 35 = 0, report the esti-
mates. [3 pts]
h
(c) If, instead, parameters used constraints Σ₁ = Σ₁ BY = Σ; B = 0, report
the estimates. [3 pts]
Hint the probabilities, odds and odds ratios do not change with constraints.
Solve please and thank you!
Solve please and thank you!
Chapter 4 Solutions
EBK STATISTICS FOR BUSINESS AND ECONOMI
Ch. 4.1 - Types of random variables. Which of the following...Ch. 4.1 - Types of finance random variables. Security...Ch. 4.1 - NHTSA crash tests. Refer to the National Highway...Ch. 4.1 - Customers in line at a Subway shop. The number of...Ch. 4.1 - Executive pay. Refer to Glassdoor Economic...Ch. 4.1 - Banking. Give an example of a discrete random...Ch. 4.1 - Economics. Give an example of a continuous random...Ch. 4.1 - Hotel management. Give an example of a discrete...Ch. 4.1 - Retailing. Give two examples of discrete random...Ch. 4.1 - Stock market. Give an example of a continuous...
Ch. 4.2 - A discrete random variable x can assume five...Ch. 4.2 - The random variable x has the following discrete...Ch. 4.2 - A discrete random variable x can assume five...Ch. 4.2 - Explain why each of the following is or is not a...Ch. 4.2 - A die is tossed. Let x be the number of spots...Ch. 4.2 - Toss three fair coins and let x equal the number...Ch. 4.2 - Use the apple! Random Numbers to generate a list...Ch. 4.2 - Run the applet Simulating the Probability of a...Ch. 4.2 - Consider the probability distribution shown here:...Ch. 4.2 - Consider the probability distribution for the...Ch. 4.2 - Consider the probability distributions shown here:...Ch. 4.2 - Apps not working on smartphone. In a Pew Research...Ch. 4.2 - NHTSA crash tests. Refer to the NHTSA crash tests...Ch. 4.2 - Ages of dot-com employees. The age (in years)...Ch. 4.2 - Variable speed limit control for freeways. A...Ch. 4.2 - Choosing portable grill displays. Refer to the...Ch. 4.2 - Do social robots walk or roll? Refer to the...Ch. 4.2 - Reliability of a manufacturing network. A team of...Ch. 4.2 - Prob. 4.27ACICh. 4.2 - Prob. 4.28ACICh. 4.2 - Contaminated gun cartridges. A weapons...Ch. 4.2 - The last name effect in purchasing. The Journal of...Ch. 4.2 - Mail rooms contaminated with anthrax. During...Ch. 4.2 - Investment risk analysis. The risk of a portfolio...Ch. 4.2 - Prob. 4.33ACICh. 4.2 - Stock market participation and IQ. Refer to The...Ch. 4.2 - Expected loss due to flood damage. The National...Ch. 4.2 - Expected Lotto winnings. Most states offer weekly...Ch. 4.2 - Prob. 4.37ACACh. 4.2 - Prob. 4.38ACACh. 4.2 - Prob. 4.39ACACh. 4.3 - Compute the following: a. 6!2!(62)! b. (52) c....Ch. 4.3 - Consider the following probability distribution:...Ch. 4.3 - Suppose x is a binomial random variable with n = 3...Ch. 4.3 - If x is a binomial random variable, compute p (x)...Ch. 4.3 - If x is a binomial random variable, use Table I in...Ch. 4.3 - If x is a binomial random variable, calculate , 2,...Ch. 4.3 - The binomial probability distribution is a family...Ch. 4.3 - Use the applets Simulating the Probability of a...Ch. 4.3 - Open the applet Sample from a Population. On the...Ch. 4.3 - Use the applet Simulating the Stock Market to...Ch. 4.3 - Working on summer vacation. Recall (Exercise 3.13,...Ch. 4.3 - Privacy and information sharing. Some grocery...Ch. 4.3 - Hotel guest satisfaction. Each year, J. D. Power...Ch. 4.3 - Physicians opinions on a career in medicine. The...Ch. 4.3 - Playing sports related to job pay. Does...Ch. 4.3 - Immediate feedback to incorrect exam answers....Ch. 4.3 - Fingerprint expertise. Refer to the Psychological...Ch. 4.3 - Making your vote count. Refer to the Chance (Fall...Ch. 4.3 - Bridge inspection ratings. According to the...Ch. 4.3 - Tax returns audited by the IRS. According to the...Ch. 4.3 - FDA report on pesticides in food. Periodically,...Ch. 4.3 - Prob. 4.58ACACh. 4.3 - USGA golf ball specifications. According to the...Ch. 4.3 - Network forensic analysis. A network forensic...Ch. 4.4 - Consider the probability distribution shown here:...Ch. 4.4 - Assume that x is a random variable having a...Ch. 4.4 - Prob. 4.63LMCh. 4.4 - Prob. 4.64LMCh. 4.4 - Prob. 4.65LMCh. 4.4 - Suppose x is a random variable for which a Poisson...Ch. 4.4 - Prob. 4.67LMCh. 4.4 - Prob. 4.68LMCh. 4.4 - Prob. 4.69ACBCh. 4.4 - FDIC bank failures. The Federal Deposit Insurance...Ch. 4.4 - Airline fatalities. Over the past 5 years, U.S....Ch. 4.4 - Male nannies. According to the International Nanny...Ch. 4.4 - Contaminated gun cartridges. Refer to the...Ch. 4.4 - Prob. 4.74ACBCh. 4.4 - Prob. 4.75ACICh. 4.4 - Traffic fatalities and sporting events. The...Ch. 4.4 - Prob. 4.77ACICh. 4.4 - Guilt in decision making. The Journal of...Ch. 4.4 - Flaws in plastic-coated wire. The British Columbia...Ch. 4.4 - Making high-stakes insurance decisions. The...Ch. 4.4 - Prob. 4.81ACACh. 4.4 - Waiting for a car wash. An automatic car wash...Ch. 4.4 - Elevator passenger arrivals. A study of the...Ch. 4.6 - Find the area under the standard normal...Ch. 4.6 - Find the following probabilities for the standard...Ch. 4.6 - Find the following probabilities for the standard...Ch. 4.6 - Find each of the following probabilities for the...Ch. 4.6 - Find a value of the standard normal random...Ch. 4.6 - Find a value of the standard normal random...Ch. 4.6 - Give the z-score for a measurement from a normal...Ch. 4.6 - Suppose the random variable x is best described by...Ch. 4.6 - The random variable x has a normal distribution...Ch. 4.6 - Suppose x is a normally distributed random...Ch. 4.6 - Suppose x is a normally distributed random...Ch. 4.6 - Suppose x is a binomial random variable with p =...Ch. 4.6 - Assume that x is a binomial random variable with n...Ch. 4.6 - Open the applet Sample from a Population. On the...Ch. 4.6 - Variable life insurance return rates. With a...Ch. 4.6 - Hotels use of ecolabels. Refer to the Journal of...Ch. 4.6 - Tomato as a taste modifier. Miraculina protein...Ch. 4.6 - Corporate sustainability of CPA firms. Refer to...Ch. 4.6 - Shopping vehicle and judgment. Refer to the...Ch. 4.6 - Buy-side vs. sell-side analysts earnings...Ch. 4.6 - Blood diamonds. According to Global Research News...Ch. 4.6 - Prob. 4.104ACBCh. 4.6 - Executive networking and firm performance. Refer...Ch. 4.6 - Voltage sags and swells. Refer to the Electrical...Ch. 4.6 - Prob. 4.107ACICh. 4.6 - Safety of underground tunnels. Research published...Ch. 4.6 - Prob. 4.109ACICh. 4.6 - Manufacturing hourly pay rate. Government data...Ch. 4.6 - Personnel dexterity tests. Personnel tests are...Ch. 4.6 - Californias electoral college votes. During a...Ch. 4.6 - Prob. 4.113ACICh. 4.6 - Industrial filling process. The characteristics of...Ch. 4.6 - Prob. 4.115ACACh. 4.6 - Box plots and the standard normal distribution....Ch. 4.7 - If a population data set is normally distributed,...Ch. 4.7 - Prob. 4.118LMCh. 4.7 - Prob. 4.119LMCh. 4.7 - Examine the sample data in the accompanying table....Ch. 4.7 - Prob. 4.121ACBCh. 4.7 - Prob. 4.122ACBCh. 4.7 - Drug content assessment. Scientists at...Ch. 4.7 - Prob. 4.124ACBCh. 4.7 - Prob. 4.125ACBCh. 4.7 - Wear-out of used display panels. Wear-out failure...Ch. 4.7 - Rankings of research universities. Refer to the...Ch. 4.7 - Sanitation inspection of cruise ships. Refer to...Ch. 4.7 - Ranking driving performance of professional...Ch. 4.7 - Permeability of sandstone during weathering. Refer...Ch. 4.7 - Prob. 4.131ACACh. 4.8 - Suppose x is a random variable best described by a...Ch. 4.8 - Suppose x is a random variable best described by a...Ch. 4.8 - Refer to Exercise 4.133. Find the following...Ch. 4.8 - Suppose x has an exponential distribution with =...Ch. 4.8 - Prob. 4.136LMCh. 4.8 - Prob. 4.137LMCh. 4.8 - Prob. 4.138LMCh. 4.8 - Prob. 4.7AECh. 4.8 - Prob. 4.8AECh. 4.8 - Load on timber beams. Timber beams are widely used...Ch. 4.8 - Preventative maintenance tests. The optimal...Ch. 4.8 - Maintaining pipe wall temperature. Maintaining a...Ch. 4.8 - Detecting anthrax. Researchers at the University...Ch. 4.8 - Lead in metal shredder residue. On the basis of...Ch. 4.8 - Critical-part failures in NASCAR vehicles. In...Ch. 4.8 - Social network densities. Social networking sites...Ch. 4.8 - Boeing 787 Dreamliner. An assessment of the new...Ch. 4.8 - Soft-drink dispenser. The manager of a local...Ch. 4.8 - Prob. 4.148ACICh. 4.8 - Prob. 4.149ACICh. 4.8 - Cycle availability of a system. In the jargon of...Ch. 4.8 - Prob. 4.151ACICh. 4.8 - Reliability of CO-ROMs. In Reliability Ques (March...Ch. 4.8 - Prob. 4.153ACACh. 4.8 - Reliability of a robotic device. The reliability...Ch. 4.8 - Prob. 4.155ACACh. 4 - For each of the following examples, decide whether...Ch. 4 - Given that x is a binomial random variable,...Ch. 4 - Consider the discrete probability distribution...Ch. 4 - Suppose x is a binomial random variable with n =...Ch. 4 - Suppose x is a Poisson random variable. Compute p...Ch. 4 - Identify the type of random variablebinomial,...Ch. 4 - Prob. 4.162LMCh. 4 - Which of the following describe discrete random...Ch. 4 - Assume that x is a random variable best described...Ch. 4 - Find the following probabilities for the standard...Ch. 4 - Find a z-score, call it z0, such that a. P (z z0)...Ch. 4 - Identify the type of continuous random...Ch. 4 - Assume that x has an exponential distribution with...Ch. 4 - The random variable x has a normal distribution...Ch. 4 - Assume that x is a binomial random variable with n...Ch. 4 - The random variable x has a normal distribution...Ch. 4 - Analysis of bottled water. Is the bottled water...Ch. 4 - Downloading apps to your cell phone. According to...Ch. 4 - LASIK surgery complications. According to studies,...Ch. 4 - Requests to a Web server. According to Brighton...Ch. 4 - NASA and rare planet transits. A planet transit is...Ch. 4 - Hospital patient interarrival times. The length of...Ch. 4 - Dutch elm disease. A nursery advertises that it...Ch. 4 - Tracking missiles with satellite imagery. The...Ch. 4 - The business of casino gaming. Casino gaming...Ch. 4 - Machine repair times. An article in IEEE...Ch. 4 - Public transit deaths. Millions of suburban...Ch. 4 - On-site treatment of hazardous waste. The Resource...Ch. 4 - When to replace a maintenance system. An article...Ch. 4 - Software file updates. Software configuration...Ch. 4 - NHTSA crash safety tests. Refer to Exercise 4.21...Ch. 4 - Errors in measuring truck weights. To help highway...Ch. 4 - Detecting a computer virus attack. Chance (Winter...Ch. 4 - Whistle-blowing among federal employees....Ch. 4 - Ambulance response time. Ambulance response time...Ch. 4 - Optimal goal target in soccer. When attempting to...Ch. 4 - Marine losses for an oil company. The frequency...Ch. 4 - Reliability of a flow network. The journal...Ch. 4 - Doctors and ethics. Refer to the Journal of...Ch. 4 - Prob. 4.195ACICh. 4 - Testing for spoiled wine. Suppose that you are...Ch. 4 - Estimating demand for white bread. A bakery has...Ch. 4 - Checkout lanes at a supermarket. A team of...Ch. 4 - Rating employee performance. Almost all companies...Ch. 4 - Ship-to-shore transfer times. Lack of port...Ch. 4 - Prob. 4.201ACACh. 4 - Establishing tolerance limits. The tolerance...Ch. 4 - The showcase showdown. On the popular television...Ch. 4 - Reliability of a one-shot device. A one-shot...Ch. 4 - Super weapons development. The U.S. Army is...Ch. 4 - Space shuttle disaster. On January 28, 1986, the...Ch. 4 - Warehouse clubs are retailers that offer lower...Ch. 4 - Prob. 4.1.2ACh. 4 - Prob. 4.1.3ACh. 4 - Prob. 4.1.4ACh. 4 - Prob. 4.1.5ACh. 4 - Prob. 4.1.6ACh. 4 - Prob. 4.1.7ACh. 4 - Warehouse clubs are retailers that offer lower...
Additional Business Textbook Solutions
Find more solutions based on key concepts
(a) Make a stem-and-leaf plot for these 24 observations on the number of customers who used a down-town CitiBan...
APPLIED STAT.IN BUS.+ECONOMICS
Find all solutions of each equation in the interval .
Precalculus: A Unit Circle Approach (3rd Edition)
Silvia wants to mix a 40% apple juice drink with pure apple juice to make 2 L of a juice drink that is 80% appl...
Beginning and Intermediate Algebra
For each hour of class time, how many hours outside of class are recommended for studying and doing homework?
Elementary Algebra For College Students (10th Edition)
1. How is a sample related to a population?
Elementary Statistics: Picturing the World (7th Edition)
Check Your Understanding
Reading Check Complete each sentence using > or < for □.
RC1. 3 dm □ 3 dam
Basic College Mathematics
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Question 1:We want to evaluate the impact on the monetary economy for a company of two types of strategy (competitive strategy, cooperative strategy) adopted by buyers.Competitive strategy: strategy characterized by firm behavior aimed at obtaining concessions from the buyer.Cooperative strategy: a strategy based on a problem-solving negotiating attitude, with a high level of trust and cooperation.A random sample of 17 buyers took part in a negotiation experiment in which 9 buyers adopted the competitive strategy, and the other 8 the cooperative strategy. The savings obtained for each group of buyers are presented in the pdf that i sent: For this problem, we assume that the samples are random and come from two normal populations of unknown but equal variances.According to the theory, the average saving of buyers adopting a competitive strategy will be lower than that of buyers adopting a cooperative strategy.a) Specify the population identifications and the hypotheses H0 and H1…arrow_forwardYou assume that the annual incomes for certain workers are normal with a mean of $28,500 and a standard deviation of $2,400. What’s the chance that a randomly selected employee makes more than $30,000?What’s the chance that 36 randomly selected employees make more than $30,000, on average?arrow_forwardWhat’s the chance that a fair coin comes up heads more than 60 times when you toss it 100 times?arrow_forward
- Suppose that you have a normal population of quiz scores with mean 40 and standard deviation 10. Select a random sample of 40. What’s the chance that the mean of the quiz scores won’t exceed 45?Select one individual from the population. What’s the chance that his/her quiz score won’t exceed 45?arrow_forwardSuppose that you take a sample of 100 from a population that contains 45 percent Democrats. What sample size condition do you need to check here (if any)?What’s the standard error of ^P?Compare the standard errors of ^p n=100 for ,n=1000 , n=10,000, and comment.arrow_forwardSuppose that a class’s test scores have a mean of 80 and standard deviation of 5. You choose 25 students from the class. What’s the chance that the group’s average test score is more than 82?arrow_forward
- Suppose that you collect data on 10 products and check their weights. The average should be 10 ounces, but your sample mean is 9 ounces with standard deviation 2 ounces. Find the standard score.What percentile is the standard score found in part a of this question closest to?Suppose that the mean really is 10 ounces. Do you find these results unusual? Use probabilities to explain.arrow_forwardSuppose that you want to sample expensive computer chips, but you can have only n=3 of them. Should you continue the experiment?arrow_forwardSuppose that studies claim that 40 percent of cellphone owners use their phones in the car while driving. What’s the chance that more than 425 out of a random sample of 1,000 cellphone owners say they use their phones while driving?arrow_forward
- Suppose that the average length of stay in Europe for American tourists is 17 days, with standard deviation 4.5. You choose a random sample of 16 American tourists. The sample of 16 stay an average of 18.5 days or more. What’s the chance of that happening?arrow_forwardHow do you recognize that a statistical problem requires you to use the CLT? Think of one or two clues you can look for. (Assume quantitative data.)arrow_forwardSuppose that you take a sample of 100 from a skewed population with mean 50 and standard deviation 15. What sample size condition do you need to check here (if any)?What’s the shape and center of the sampling distribution for ?What’s the standard error?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Linear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Linear Algebra: A Modern Introduction
Algebra
ISBN:9781285463247
Author:David Poole
Publisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
Mod-01 Lec-01 Discrete probability distributions (Part 1); Author: nptelhrd;https://www.youtube.com/watch?v=6x1pL9Yov1k;License: Standard YouTube License, CC-BY
Discrete Probability Distributions; Author: Learn Something;https://www.youtube.com/watch?v=m9U4UelWLFs;License: Standard YouTube License, CC-BY
Probability Distribution Functions (PMF, PDF, CDF); Author: zedstatistics;https://www.youtube.com/watch?v=YXLVjCKVP7U;License: Standard YouTube License, CC-BY
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License